SmartStream Technologies appoints new CEO to drive continued global expansion
October 31, 2006
SmartStream Technologies, the market leading provider of Transaction Lifecycle Management solutions, today announced Ken Archer has been appointed CEO. Archer, who assumes full responsibility on November 6th, joins SmartStream following the firm's recent record financial performance and buyout by TA Associates (September 6).
Archer is an accomplished executive with more than 25 years experience in leading and managing large services and software companies. Having started his career with JP Morgan, where he was VP of Information Services, Archer subsequently became CEO of Mercantile Information Services and COO of The Savings Corporation, a subsidiary of AIG. Archer’s most recent position was President of European Business Development at Computer Sciences Corporation, where for the last 8 years he was responsible for managing the sales organisation for an operation with annual revenues in excess of $4B and CAGR of 15%.
Commenting on the appointment, Ron Mackintosh, Chairman said, “SmartStream continues to be a great success story; its compelling set of solutions addressing critical operational challenges in the world’s largest financial institutions, its list of impressive clients and new investment from one of the world’s leading buyout and private equity firms. I’m delighted we’ve appointed a world class CEO to lead the company through the next stage of its corporate development.”
“SmartStream has a formidable reputation in the market place as the STP thought leader and dominant player in its chosen markets - this is a phenomenal platform to build on. My focus will be to leverage this position to expand and deepen the relationships the company already has with over 1,000 customers worldwide.” said Archer. “From my own experience of working within large financial institutions I understand only too well the siloed nature of their operations and technology architectures. The challenges they face to streamline processes, drive out risk and cost, improve customer service whilst coping with today’s highly regulated environment are significant. However, by engaging as a strategic partner with our clients and bringing to bear our deep market knowledge and leading edge technology I’m confident we can address their most pressing needs.”
Commenting on the announcement, Ajit Nedungadi, SmartStream Board member and a Principal at TA Associates said, "We are very pleased that an individual of Ken Archer's stature has joined SmartStream. The company is already a true global brand leader and with the added value of Ken’s leadership we are confident it will continue to dominate the market with its Transaction Lifecycle Management solutions."